Budget 2018: Oil ministry seeks cut in excise duty on petrol, diesel 


Budget 2018

India's oil service is pushing for a cut in extract obligation on petroleum and diesel in the up and coming 2018/19 spending plan to pad the effect of rising oil costs on its huge buyer base, two oil service authorities told Reuters on Monday.

Leader Narendra Modi, who faces decisions in key states not long from now, and an across the nation race in mid 2019, has confronted weight over an ascent in retail costs of petroleum and diesel to a record level.

India has the most elevated retail costs of petroleum and diesel among South Asian countries as expenses represent around 40-50 percent of the pump costs.

A liter of oil costs 72.23 rupees ($1.13) while diesel is sold at 63.01 rupees. Oil and diesel represent about portion of India's refined fuel utilization.

"We can just suggest. It is up to the fund service to take a choice," a senior oil service official said.


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